The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-07-13
FINANCE and COMMERCE.
HONEY 6 TO 8 PER CENT, NEW
YORK EXCHANGE IS PREM.
Cotton Q"iet-Mlddling Cotton, 1O3c
Sales Today Unim'
p0rtant.
APPEAL 0PpfcE.
TUESDAY EVENING, July IL, 1887.


TUESDAY EVENING, July IL, lSSl.i
Money rates continue at 8 to per
cent, the outside figure ruling. There was
quite lively bidding and Offering at the Stock
Call Board meeting today. and forty shares
Of Masonic Temple stock were sold at figures
ranging from 95 10 99c.
Cotton took another heavy tumble today,
Memphis spots going of 10; New Orleans
spots, 1-16c, and futures of to 8 points.
At New York spots declined l6c. and fut-
ures Is to 80 points on the old crop and II to
IA points On the new. The sales Of futures
at the last call were IS, 800 bales.
A leading New York cotton circular, Of
date the 18th. gives the following explana-
tion efthe present condition Of the market:
"Anoth,r active day. the result OF free Of
feripgs, with heavy decline In prices on
tho old crop, and the market appar sntly
pretty badly demoraliIed. The market is
weighted by much stronger evidence of sell
ing out on the part Of the bull clique than
for some time past, and with large amounts
offered on the limits OF stop orders. Long"
cotton Ia freely liquidated. August dropped
% points, closing at the lowest. New crop
retsdsd 500 points, but was not offered with
depressing freedom, and found some fair
buying ORDERS"
The Liverpool market seems to be 10 SYM
patty with the American market-spots de-
elining toby I'd and futures 8 to spOints.
Grain and provisions are stronger. Meats
are advancing. and groceries are firm. As
10 the coffee market, the New York CONNER
eia, Bulletin Of the 18th says: with tho ex-
oeption ola few small deals in spices. specu-
lation Is principally confined to the Coffee
Exchange, but even there II is at present Of
such q dove like character as to create q
burden upon legitimate trade, especially as
the country seems TO feel and act as though
believing that the berry has undergone the
full measure Of shrinkage In value as war
ranted By natural influences and was at the
same time free from the danger of
unexpected and unnecessary imitation. Now
that tho glamour Of unbridled speculation
has been deadened by natural disaster. op-
orators In their calmer moments are making
greater allowances for the influence Of high
cost upon the volume OF consumption. but
there 10 apparently no ultra bearish feeling,
and the chances are thought to favor fuller
and healthier state Of legitimate trade at no
very distsnt period"
The BradstTeet Agency reports lil failures
In the United States during the week ending
July s, 1857, against l76 In the preceding
week, and T3, 1872. 1i6 and 1876 in the CORES
ponding weeks Of 1885. 1885, 1884, and 1888 re-
spsctively; Middle States. 80; New Eng
land States, 81; Southern States, IS; West
ern States, 40; Pacific States and territories.
Is; Canada, q. Total In the United States
and Canada, 49,
IMPORTS.
Ten bbls beans and peas. % pigs batter,
80 pkgs bacon, sos pkss boots and shoes, TO-
900 bu corn, 81 SKIS coffee. lis pkgs dry goods,
e. pkgs eggs, $50 brls a iur, i92 bales hay. SO
pkgs hats, IS head cattle. 10 head horses and
nulss, bs6 pkgs lard, l05 900 feet lumber, 90
-pkE liquors, 2 cars lime. $50 brls meal, Isl
'brls mSlassos, ! cars FORK sides, ii ptgs
rice. 1875 btls sugar, 20 pks tobacco and l2oO
bu wheat.